Goldman Sachs Working With Exchanges to Resolve Options Trades
Goldman Sachs Group Inc. is working with exchanges to resolve faulty options trades that roiled markets this morning and any losses “would not be material to the financial condition of the firm,” according to an e-mail from spokesman David Wells.
At least three operators of U.S. options exchanges are reviewing trades that took place at the beginning of the day and NYSE Amex Options said most of the transactions may be canceled.
A “large number” of trades in tickers beginning with letters H through L in the first 17 minutes are being examined by NYSE Amex Options, it said in a statement. CBOE Holdings, the largest venue, said it is examining trades between 9:30 and 9:41 a.m. Nasdaq OMX Group Inc. is reviewing options transactions from 9:30 to 9:47 a.m., according to its website.
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